After significant losses before the Easter break, the 23,000 point mark remains in focus again. In addition, Trump’s ultimatum to Iran is expiring.
After the long Easter break, the DAX initially reacted to the weekend’s events without any major movements. It started the shortened trading week 0.06 percent higher at 23,181.65 points and briefly moved in a narrow range with subsequent ups and downs. The stock barometer is currently climbing higher.
Deadline expires: no agreement in sight
The focus is on US President Trump’s ultimatum to Tehran. Shortly before it expires on Wednesday at 2:00 a.m. CEST, there are no signs of an agreement. Trump reiterated his warning of “total destruction” of all Iranian power plants and bridges if Tehran does not open the Strait of Hormuz. The strait is one of the world’s most important transport routes – and not just for energy. A spokesman for the Iranian military leadership reacted to Trump’s threat with ridicule.
The US could destroy Iran’s bridges and power plants within four hours, Trump warned in the White House. You don’t want that to happen. But at the same time he emphasized: “We have a plan.” Iran’s Deputy Sports Minister Alireza Rahimi called on artists and athletes to form human chains at power plants across the country at noon local time today. “We will stand hand in hand to say: Attacks on public infrastructure are a war crime,” Rahimi wrote on Platform X.
Khatam al-Anbiya command center spokesman Ebrahim Zolfaqari said the “rude, arrogant rhetoric and baseless threats of the delusional US president” would not stop Iran’s attacks against “American and Zionist enemies,” according to state media. Ali-Akbar Welajati, a foreign policy adviser to Iran’s supreme leader, wrote on Meanwhile, Iran continues to attack Gulf states with US bases.
The situation on the oil market is getting worse again
The Iran war has now lasted six weeks and is causing oil prices to rise sharply and, in return, significant losses on the stock markets. Since the last trading day in Germany last Thursday, the Brent oil reference grade for delivery in June has risen to just over $111.
Since the start of the war, the price of oil has risen by just over half. Oil prices are currently the most important indicator of inflation and economic concerns on the market.
DAX record last in January
On January 13th, the DAX reached an all-time high of 25,507.79 points, exceeding the 25,500 point threshold for the first time in its history. Ultimately, it ended the day at 25,420.66 points, which was a new record based on the closing price.
Benedict Kurschat, Melanie Schürmann, finanzen.net editorial team with material from dpa-AFX and Dow Jones Newswires
Image sources: Julian Mezger for Finanz Verlag, Pavel Ignatov / Shutterstock.com
